Elon Musk told the National Governors Association, “There certainly will be job disruption. Because what’s going to happen is robots will be able to do everything better than us.” Musk even went so far as to say that “AI is a fundamental risk to the existence of human civilization.”
John Cryan, the millionaire CEO of Deutsche Bank, is the latest industry leader to suggest that technology will lead to significant layoffs — and possibly sooner than we think.
Two weeks after Aleksandar Kocic highlighted the moment in 2012 when the market stopped caring about newsflow and reality, and, in a word “broke” with pervasive complacency setting in regardless of macro uncertainty…
… Deutsche Bank’s post modernist master of stream-of-consciousness narrative is back with a new essay dissecting his favorite topic, the interplay between the Fed and markets, the so-called “umbilical limbo” that connects the two in the form of ultraeasy monetary policy and QE in general, and more importantly, the narrative that the Fed has spun over the past ten years, which while supportive of risk assets, has concurrently resulted in what Kocic calls a “permanent state of exception” from normalcy as a result of the Fed decision to defer the financial crisis indefinitely.